Monday, February 26, 2007

Bahrain Islamic banks in Malaysia, Kenyan Islamic bank, SBP speech, Accounting & Legal Issues in Islamic finance

Bahraini banks moving into Malaysia?

The Deputy Prime Minister Datuk Seri Najib Tun Razakannounced that, in addition to the Gulf area banks Kuwait Finance House and Al Rajhi Banking & Investment Corp which already operate in Malaysia, a Bahraini Islamic bank wants a license to operate in the country.

First Islamic bank to open in Kenya

The bank, the Gulf African Bank Ltd., is financed by Dubai Islamic Bank, Bank Muscat International, Istithmar, the Free Trade Area bank and Saudi investors. It will open in April. [Previous post]

State Bank of Pakistan governor speech

In a speech over the weekend, Dr. Shamshad Akhtar, the governor of the State Bank of Pakistan echoed the message of the central bank governor of Malaysia that Islamic banks should focus on the SME market.

Accounting & Legal Issues in Islamic finance

There are issues with legal and accounting differences between Islamic finance and conventional finance. The former will be discussed at an IFSB Conference on March 28-29, 2007 while the latter is being discussed after the release of a study by the University of Wollongong in Dubai (UOWD).

The IFSB conference is listed on the Institute of Halal Investing website, conference page

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